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Home / Metal News / SHFE Nickel to Fluctuate at Highs (2017-7-31)

SHFE Nickel to Fluctuate at Highs (2017-7-31)

iconJul 31, 2017 09:38
US Q2 GDP rebounded to 2.6%, but salary growth hit a 2-year low, leaving the US dollar weak.

SHANGHAI, Jul. 31 (SMM) – US Q2 GDP rebounded to 2.6%, but salary growth hit a 2-year low, leaving the US dollar weak. LME nickel will find solid support from USD 10,000/mt today, and SHFE 1709 nickel should hover between RMB 82,000-83,500/mt, with spot prices between RMB 82,000-84,400/mt. China’s official manufacturing and non-manufacturing PMI is due for release today.

nickel prices
LME nickel prices
SHFE nickel prices
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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